From just past midnight local time (05:01 BST), China will face 104% tariffs from the US, after refusing to dial back on their own retaliatory action. The rest of Trump's "reciprocal" tariffs will also go ahead, directly impacting about 60 countries and territories

Global stocks are rebounding Tuesday as some investors take advantage of recent massive losses, even as China threatened to hit back further if President Donald Trump hikes U.S. import tariffs by an additional 50%.

China faced a deadline Tuesday to roll back the reciprocal tariff it promised to impose on the U.S. or face an additional 50% levy.